Leading Private Equity Firm Completes Acquisition of the Largest Privately-Owned Telecommunications Provider in Nebraska
WASHINGTON, Oct. 18, 2018 /PRNewswire/ -- Grain Management, LLC (Grain), a leading private equity firm focused on investments in the communications sector, announced today that it has completed the acquisition of Great Plains Communications, the largest privately-owned telecommunications provider in Nebraska. Moving forward, Grain will partner with the Great Plains Communications management team to improve and extend the company's 9,500-mile high quality fiber network deeper into the Midwest, while continuing to meet rising bandwidth demands through enhanced products and personalized customer service. The acquisition process began in June 2018, pending regulatory approvals, and was completed on October 17, 2018. Financial terms of the transaction were not disclosed.
"Great Plains Communications has an impressive network footprint and is known for over a century of innovation and integrity. The fiber network is high quality and diverse, and the management team is poised and ready to improve and expand. These traits make Great Plains Communications a company Grain is excited to have in its portfolio of investments. We see great things ahead," said David Grain, Founder & CEO of Grain Management.
Grain acquired Great Plains Communications from the Jensen and Garrigan families, descendants of E.C. Hunt who founded the organization in 1910 as a local telephone company. Since that time, the family, along with the management team has continued to evolve the business to stay current with ever-changing technology trends and bandwidth needs, transforming from a phone company to a leading regional provider of fiber-based services.
Today, through strategic investment in its state-of-the-art fiber network and facilities, Great Plains Communications continues to be a leader in the industry, providing residential services such as digital phone, high-definition cable television, and broadband Internet through DSL, cable modem, satellite or fiber to more than 90 communities across the state of Nebraska. Business services range from traditional voice and data products to installation and support of large business networks with scalable Ethernet solutions. The company also serves the needs of carrier and wholesale customers.
"Grain's expertise and deep industry experience make this acquisition very positive for our company as well as our customers and the communities we serve," said Great Plains Communications CEO, Todd Foje. "Their proficiency will allow us to further expand our fiber footprint in Nebraska and throughout the region, while also providing enhanced services for our customers. We are excited to begin this journey with our new partners."
TD Securities served as financial advisor to Grain. Alston & Bird LLP served as legal counsel to Grain with assistance from Covington & Burling LLP.
UBS Investment Bank served as exclusive financial advisor to Great Plains Communications in the transaction. Morgan Lewis & Bockius LLP served as legal counsel to Great Plains Communications with assistance from Kutak Rock LLP and Woods & Aitken LLP.
About Grain Management
Grain Management, LLC is a leading private equity firm focused on investments in the communications sector. The firm was founded in 2007 with the objective of bringing a differentiated approach to the industry characterized by expansive sector knowledge, rigorous analytics, and dedicated, in-house operating and financial professionals. Grain is directed by a team of highly experienced investment professionals with deep industry knowledge and a specialized skillset, marked by extensive operating history, deep quantitative and analytical proficiency, and regulatory expertise. For more information visit www.graingp.com.
About Great Plains Communications
Great Plains Communications is the largest privately-owned telecommunications provider in Nebraska, delivering high speed Internet, cable television, and voice services to over 90 communities across the state. The company also prides itself on their progressive approach to accommodating the unique needs of all regional and national telecommunications carriers, LECs, ISPs, wireless carriers and other service providers utilizing superior engineering and custom build strategies. At the core of its service offering is an extensive 9,500-mile regional fiber network including over 300 fiber miles in the Omaha Metro area. The network extends beyond Nebraska into Colorado, Illinois, Iowa, Kansas, Minnesota, South Dakota, and Wyoming offering community access rings, last-mile, and middle-mile solutions, all fully supported by their 24x7x365 Network Operations Center. For more information visit www.gpcom.com.
Contacts:
Grain Management, LLC – Lina Francis, [email protected]
Great Plains Communications – Laura Kocher, [email protected]
SOURCE Grain Management, LLC
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